Article 5 Modification of the Third Schedule
Sections 75f1 and 76f2 of the Third Schedule shall be modified as follows —
(a)
In section 75 (sale of stock by auction or tender): —
(i)
in subsection (2), omit the words “public auction or”;
(ii)
omit subsection (2)(a);
(iii)
in subsection (2)(b), omit the words from “and notice thereof” to the end;
(iv)
omit subsection (2)(c);
(v)
in subsection (2)(d), omit the words “in the case of a sale by tender,” and by “by tender”;
(vi)
omit subsection (2)(e);
(vii)
in subsection (2)(f), omit the words “of the auction or” and “, as the case may be”;
(viii)
omit subsection (4);
(b)
In section 76(1) (reserve and contingency funds), after the words “think fit” insert “(not being provisions for liabilities or charges within paragraph 89 of Schedule 4 to the Companies Act 1985f3”.